Common use of Cash Dividends; Voting Rights Clause in Contracts

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Pledgor of the Agent's intent to exercise its corresponding rights pursuant to paragraph 7 below, the Pledgor shall be permitted to receive all dividends and distributions paid or made in respect of the Pledged Equity Interests and to exercise all voting and corporate or limited liability company (as the case may be) and other rights with respect to the Pledged Equity Interests; provided, however, that no vote shall be cast or corporate or limited liability company (as the case may be) right exercised or other action taken which would materially impair the Collateral (other than pursuant to a transaction permitted under the Credit Agreement) or result in any violation of any provision of the Credit Agreement, this Agreement or any other Credit Document.

Appears in 4 contracts

Samples: Pledge Agreement (Remington Arms Co Inc/), Pledge Agreement (Remington Arms Co Inc/), Pledge Agreement (Remington Arms Co Inc/)

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Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgor Pledgors of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor Pledgors shall be permitted to receive all cash dividends paid in the normal course of business of the Issuers and distributions paid or made consistent with past practice, to the extent permitted in the Credit Agreement, in respect of the Pledged Equity Interests Collateral and to exercise all voting and voting, corporate or limited liability company (as the case may bewith respect to stock), member (with respect to LLC interests) and other partnership (with respect to partnership interests rights with respect to the Pledged Equity InterestsCollateral; provided, however, that no vote shall be cast or corporate or limited liability company (as the case may be) right exercised or other action taken which would materially impair the Collateral (other than pursuant to a transaction permitted under the Credit Agreement) or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, the Notes, this Pledge Agreement or any the other Credit DocumentLoan Documents.

Appears in 2 contracts

Samples: Pledge Agreement (Denali Inc), Pledge Agreement (Denali Inc)

Cash Dividends; Voting Rights. Unless an Event of Default shall have occurred and be continuing and the Agent shall have given notice to the Pledgor Pledgors of the Agent's intent to exercise its corresponding rights pursuant to paragraph Section 7 below, the Pledgor Pledgors shall be permitted to receive all cash dividends paid in the normal course of business of the Issuers and distributions paid consistent with past practice or made otherwise to enable the partners or shareholders of the Pledgors to pay taxes, to the extent permitted by the Credit Agreement, in respect of the Pledged Equity Interests Stock and to exercise all voting and corporate or limited liability company (as the case may be) and other rights with respect to the Pledged Equity InterestsStock; provided, however, that no vote shall be cast or corporate or limited liability company (as the case may be) right exercised or other action taken which which, in the Agent's reasonable judgment, would materially impair the Collateral (other than pursuant to a transaction permitted under the Credit Agreement) or which would be inconsistent with or result in any violation of any provision of the Credit Agreement, this Agreement or any other Credit Document.

Appears in 2 contracts

Samples: Pledge Agreement (M & M Properties Inc), Pledge Agreement (MST Enterprises Inc)

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Cash Dividends; Voting Rights. Unless an Event of Default shall ----------------------------- have occurred and be continuing and the Administrative Agent shall have given notice to the Pledgor of the Administrative Agent's intent to exercise its corresponding rights pursuant to paragraph 7 below, the Pledgor shall be permitted to receive all dividends and distributions paid or made in respect of the Pledged Equity Interests Stock and to exercise all voting and corporate or limited liability company (as the case may be) and other rights with respect to the Pledged Equity InterestsStock; provided, however, that no vote shall be -------- ------- cast or corporate or limited liability company (as the case may be) right exercised or other action taken which would materially impair the Collateral (other than pursuant to a transaction transaction, permitted under the Credit Agreement) or result in any violation of any provision of the Credit Agreement, the Notes, this Agreement or any other Credit Loan Document.

Appears in 1 contract

Samples: Subsidiary Stock Pledge Agreement (Raci Holding Inc)

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